Kanpur and Mumbai locker thefts raise doubts about bank safety
India
Big gold thefts at bank lockers in Kanpur and Mumbai have sparked fresh worries about how safe bank lockers really are.
In Kanpur, a woman found her valuables missing after nearly four months; her jewelry worth ₹50 lakh was gone.
Meanwhile, in Mumbai, a 74-year-old Dubai resident returned to Mumbai after nearly two years and discovered his locker had been cleaned out of gold valued at ₹81.8 lakh.
RBI 100x locker rent for negligence
The RBI says banks must pay up to 100 times your yearly locker rent if the theft is due to their negligence, so if you pay ₹4,000 a year, you could get up to ₹4 lakh back.
But without proof that the bank messed up, they aren't liable.
Lockers use a dual-key system (both you and the bank have keys), so security is meant to be shared between both sides.